Mapletree Logistics Trust has issued SGD180 million in aggregate principal amount of 3.65% fixed rate perpetual securities, the REIT announced on 28 September.

The securities were issued by HSBC Institutional Trust Services (Singapore) Limited, in its capacity as trustee of the REIT.

Mapletree Logistics Trust had announced earlier that gross proceeds arising from the issue of the securities will be used for partial refinancing of the redemption of the SGD350 million 5.375% perpetual securities issued in 2012, and called on 19 September 2017.

Read: Mapletree logistics REIT prices SGD180 million fixed rate perpetual securities

“The offering of the securities was very well received with orders worth over SGD1.2 billion, being a subscription rate of approximately 6.7 times from high quality investors”, said the REIT then in a statement on issue.

The perpetual securities were issued under Mapletree Logistics Trust’s SGD3 billion Euro medium term securities programme.

The securities are expected to be admitted to the official list of the Singapore Exchange with effect from 9.00 a.m. on 29 September 2017.